On Oct. 20, I had the amazing experience of attending the Harvard Business School’s Retail and Luxury Goods Club Conference. It was an honor to represent the Lasell School of Fashion and meet students from other institutions such as Babson College, Harvard University, Bentley University, Yale University, New York University, University of Pennsylvania and others.
The conference was a day full of panel discussions with keynote speakers discussing industry trends and areas of interest including beauty, sustainability, the secondhand market, and private equity and investing. Students were inspired to look ahead and succeed in the industry, as so many changes have made it unclear as to what opportunities will come to fruition in the near future. The experience was something that inspired me to advance in my future career in retail.
The keynote speaker for the conference was Tricia Smith, the global CEO of Anthropologie. She discussed the customer appetite for newness that has been driving the retail market since the pandemic, with retailers needing to read and react quickly to trends. Retailers are increasingly trying to have consumers adopt a full-price business model, avoiding the need to wait for sales to buy products.
Physical retail remains a crucial factor in creating a strong brand identity for the retailer, allowing brands to aggressively push fashion and offer experiential retail experiences in the coming years. Further during her presentation, Tricia Smith said that Anthropologie is a multi-generational retailer, offering a broad range of products for many ages and demographics.
Social media has become the key introduction to younger customers for the retailer, making it essential for all brands to maintain a strong online presence going forward. Smith also emphasized hiring curious and talented leaders are vital for fostering innovation and maintaining a commitment to creativity at Anthropologie.
One piece of advice she gave was to remain open to new opportunities, as your career path won’t be perfectly linear. The first panel on the secondhand market shed light on the rapid growth of this sector with keynote speakers such as Samantha McCandless (Chief Merchandising Officer, The RealReal), Julia O'Mara (Founder, Pickle), Peter Curran (VP Global Operations, StockX), Alex Kremer (VP Strategy & Ops, Archive). Many consumers now are driven by changing consumer attitudes towards ownership and the desire for more affordable and sustainable goods. Discussions centered around the challenges and opportunities in this space highlighting its growth in modern retail.
Private equity and investing were also key topics with speakers from Dawn Dobras (Co-Founder, Capital F), Kathryn Cavanaugh (Founder & Managing Partner, Capstar Ventures), Pano Anthos (Founder & Managing Director, XRC Ventures), David Paresky (Principal, Advent International), with experts providing an overview of current investment trends and strategies in the retail and luxury goods industries. They discussed the factors that investors consider when evaluating potential opportunities and the importance of staying agile in a constantly evolving market with much economic instability is the greatest time in investing in new businesses.
The conference reinforced many of the various concepts taught in Lasell's classes I have taken, particularly the importance of staying current with industry trends and being adaptable to change. It highlighted the need for continuous learning and innovation, which are core principles emphasized in my coursework. Engaging with industry leaders and hearing firsthand about the opportunities and future in the retail and luxury sectors provided practical insights that connect directly to my academic experiences so far.
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